This morning is giving investors mixed signals, while we wait for jerome powell's interest rate decision, the wall street indexes opened higher this morning, while just about every top 100 cryptocurrencies by market caps have been trading lower. So in today's video we'll discuss the different options the federal reserve may be considering and will also discuss the european central bank's emergency meeting and its meaning behind it. On top of that celsius, token also had some more revealing news in addition to coinbase even having a massive layoff in this video there's a lot we got to cover. So if you are appreciating these daily market updates, don't forget to drop a like down below subscribe to the channel if you haven't done so already, let's get into this video, so bitcoin today has continued to drop 4 in the past 24 hours, and it's currently trading Still below its 200 weekly moving average, so the price reached as low as 20 070 dollars creeping closer to that 19 000 level.

The rsi is still on oversold levels, with the weekly showing 26 in the daily timeframe. At 22.. Now, when bitcoin reached the 20 000 level, it was officially down over 70 from its all-time high back of 69. 000.

ethereum has also dropped significantly in the past a day now down over 9 and trading at eleven hundred dollars. We talked about this before, but something to reiterate is that ethereum has also now broken below its 200 weekly moving average support levels and holds a highly oversold rsi level of 19 on the daily time frame and 26 on the weekly. Now guys. Today is the day that jerome powell will announce the interest rate hike for this month and the expectation was a 50 basis, point hike, but many investors believe a 75 or 100 basis.

Point hike is still in the probability during this current market condition of being in a downturn. What this means is, if we are seeing a 75 or a 100 rate basis, point hike. We could be seeing a significant drop in asset prices and if they do raise the rate by 50 basis points, i don't expect for us to see a huge substantial decline, because this has already been priced in over the past few weeks. So, based on what jerome powell said last month, people were expecting a 50 basis, point hike for the next two meetings.

I personally would still expect a 50-point hike today and if the federal government and other economists know that raising interest rates does not immediately affect inflation over a one to two month period. So the federal government and other economists know that raising interest rates doesn't immediately affect inflation over a one to two month period. Now, if they conclude that inflation is worse than they thought, i wouldn't be surprised if powell announces the possibility of higher interest rate hikes in the upcoming months now, while the federal reserve will be speaking today, the european central bank is holding an unscheduled emergency meeting to Discuss how bad things are and what they should do too. Currently, european countries are claiming that bond yields, which indicate the price governments must pay investors to borrow money, have risen sharply because of fear for the outlook of other european economies to break this down.

In layman terms, it's getting way too expensive for a lot of these european governments to continue borrowing money, because the ecb interest rates continue to grow through this inflation, the ecb said it was preparing a crisis package to combat unwarranted jumps in bond yields. After the prospect of first interest rate rises in more than a decade at spooked markets. Now, while nothing has been officially announced regarding interest rates, we could see the ecb slow down their rate hikes or even lower than back down to aid these governments. What this would suggest is that the ecb is currently more concerned about their country's economies rather than the rising costs of inflation.

Now i would say this right here would be pretty much the opposite of what the federal reserve is doing. Jerome powell stated that they will do everything possible to lower inflation and will increase interest rates as necessary. So if you've been following along this channel, i'm sure most you guys have been. You know that higher interest rates typically mean less economic activity and higher probabilities of entering that recession.

To give you guys my thoughts, i think it's gon na be interesting to see what happens in the u.s and european economies if they are taking opposing stances. It's pretty much like a right now. What we're seeing is just literally two heads right now. What we're seeing is literally what feels like two sides to a coin.

You got heads and tails, and europe is trying to move in a direction that is opposite to the us economy. Now, only time will tell which one is going to be making the right decision, because this is looking to be a real life economic experiment. I believe for anyone, who's in college is going to be studying, what's happening in the markets today for the years to come, and maybe even decades in the future, so believe it or not. Celsius went ahead and had a huge price action where one abrupt candle went ahead and brought the price from 18 cents all the way to a dollar 55 cents.

At this moment, there's a lot of speculation on why there was a huge price breakout with a crypto that is supposedly going down in price, with the exchange that may not be around forever now. One theory that is out here is that we could have seen a short squeeze with this asset, which is likely caused by having a huge reconstruction going on with the celsius exchange. Supposedly, celsius right now holds a make or doubt vault, that has just received over 28 million dollars worth of eth suggesting a potential bailout market participants may have also interpreted the deposit as proof of the firm's solvency, even though it has not been confirmed whether the wallet Belongs to celsius, or not now, at the time filming this video there's just a lot of theories that i've been seeing over on twitter and even right now we're actually getting some reports. That celsius is trying to seek some additional advice from lawyers on trying to restructure their exchange with an update from them yesterday, stating celsius network is working as quickly as possible when we share information as and when it becomes appropriate.

Acting in the interest of our community remains our top priority, keeping it very vague since yesterday not much anything new now. I also found this pretty interesting tweet talking about, if you have anything under 10 to 25 000 with celsius, there's a step-by-step guide on how to get your money back ahead of everyone else using the law. So pretty much. This just talks about a strategy where you can claim a small lawsuit against them on how much money you're owed and why you think, you're owed for the money, there's also some instructions on where you should be sending it to and how long it normally takes to Respond now, although i question the current success rate of something like this, there are many people that it shows right now that are trying to go through desperate measures in order to get their money back.

One of the worst feelings within this bear market is trying to get money that you may need right now and then exchange literally not having the liquidity to allow you to access that. If i said access that, i meant access that a little a little b, jungy slip up right there. Now, even earlier today, we had uh ben from bitboy crypto, also making a thread on twitter just claiming how celsius and machinski are actively scamming people right now. What this points to is really just this statement that we got over on twitter regarding their entire situation regarding celsius network.

The main point everyone needs to realize is fud caused a panic bank run and they simply can't lend out assets to earn yield for you and also have 100 liquidity. Now. The same thing would also happen if you were to go to your local bank. If they're staking your money, if they're saying you can earn interest with it, and then everyone right now is trying to take their money out from the bank.

You would have a similar situation, whether it's from an exchange like this or from traditional finance as well, now guys at the moment, the entire celsius situation still isn't looking too good, but i think there are still improvements being made according to some on-chain data, we're actually Able to see that celsius right now is looking a bit healthier because they continue to pay off the collaterals and the debts that they own, which is leading to the situation that they're in now. If you guys remember just a few days ago, they were on ramping. Some money onto ftx in order to then generate some usd tether or stable coins in order to further pay off the debt which is leading to the current crisis situation for their exchange. Now, when it comes to the celsius exchanges, there are a lot of activity and movements going on, even in the most recent transaction, we're seeing 21 million 500 000 worth of usdc just getting moved in now.

I do think at the time of filming this video there's a better chance that celsius is going to be able to recover, and hopefully people are able to get their money back, but at the same time we still have no idea how this is all going to Play out now, on top of that, we even got billionaire microsoft, co-founder bill gates, given his thoughts on crypto and nfts, talking about how it could be based on greater full theory for anyone who doesn't know what greater full theory is. This just refers to the idea that one can make money by investing in overvalued assets selling them for a profit later, because there will always be someone who's, a bit more foolish than you that will come in, buy it at a higher price and then get left. Holding the bag now, although i don't personally disagree with bill gates's thoughts on this, you have to know that bill gates is someone who has focused on web 2. Technology he's also focused on many of the aspects, including even having some other ventures into farmlands, which is pretty much the opposite of the innovation we're seeing within web3 metaverse and even the crypto industry.

I believe it's a lot easier for a lot of the outstanding individuals that we've seen before successful in the past. To be, you know a little bit more condescending towards crypto, and instead of educating people on this technology, where they're taking a bit more of an easier path which is resisting it and saying it's not worth it when the markets are already down. Let me know how you guys feel about bill gates's thoughts on the crypto markets. I think, with the current state of the bear market, it's easy for anyone, who's already been bearish or for anyone who hasn't been a fan of crypto to come in and give their thoughts now now.

I personally believe, even amongst these times where things are looking tough, it is here where those opportunities are being made and i believe we can only go down so much further within the crypto space and at some point i'm very hopeful that at least one point this Year, hopefully, it's quarter three. Hopefully it's quarter four, going to this year, we still see at least a relief rally in order to give some light back into the market, regardless of the short short-term volatility, though, or what may pan out for this year. I'm still very, very hopeful for the entire crypto market long term. This is me talking about a five to ten year time horizon and i think we're definitely gon na be able to see bitcoin break all-time highs within this lifetime, alright guys.

So if you did enjoy today's market update, don't forget to drop a like down below check out the links down below in the description where you can also find my twitter and my instagram, and if you do follow me, please watch out for impersonators and scammers that'll. Follow you dmu do not fall for it now. I also have an exclusive discord group where you can get access to my portfolio, my research and some of the technical analysis from some of our best advisors. If you guys want to also join a like-minded community, don't forget to check out the link down below in the description.

Thank you guys so much again for watching and until next time we have a code word. We have a code word. I almost forgot about comment down below wings if you guys made it all the way to the end. Thank you all so much for watching until next time, peace out.